12 false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2021 - FRS102_2021 630,885 630,885 48,805 6,888 55,693 42,529 4,122 46,651 9,042 6,276 xbrli:pure xbrli:shares iso4217:GBP 06917255 2022-07-01 2023-06-30 06917255 2023-06-30 06917255 2022-06-30 06917255 2021-07-01 2022-06-30 06917255 2022-06-30 06917255 bus:Director4 2022-07-01 2023-06-30 06917255 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 06917255 core:WithinOneYear 2023-06-30 06917255 core:WithinOneYear 2022-06-30 06917255 core:AfterOneYear 2023-06-30 06917255 core:AfterOneYear 2022-06-30 06917255 core:ShareCapital 2023-06-30 06917255 core:ShareCapital 2022-06-30 06917255 core:SharePremium 2023-06-30 06917255 core:SharePremium 2022-06-30 06917255 core:CapitalRedemptionReserve 2023-06-30 06917255 core:CapitalRedemptionReserve 2022-06-30 06917255 core:RetainedEarningsAccumulatedLosses 2023-06-30 06917255 core:RetainedEarningsAccumulatedLosses 2022-06-30 06917255 bus:SmallEntities 2022-07-01 2023-06-30 06917255 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 06917255 bus:FullAccounts 2022-07-01 2023-06-30 06917255 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 06917255 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 06917255 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-07-01 2023-06-30 06917255 core:OfficeEquipment 2022-07-01 2023-06-30 06917255 core:OfficeEquipment 2022-06-30 06917255 core:OfficeEquipment 2023-06-30
COMPANY REGISTRATION NUMBER: 06917255
NCG CAM Solutions Limited
Filleted Unaudited Financial Statements
For the year ended
30 June 2023
NCG CAM Solutions Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
6
9,042
6,276
Current assets
Debtors
7
232,081
232,550
Cash at bank and in hand
170,757
188,550
---------
---------
402,838
421,100
Creditors: amounts falling due within one year
8
56,248
54,779
---------
---------
Net current assets
346,590
366,321
---------
---------
Total assets less current liabilities
355,632
372,597
Creditors: amounts falling due after more than one year
9
25,000
35,000
---------
---------
Net assets
330,632
337,597
---------
---------
Capital and reserves
Called up share capital
5,967
5,967
Share premium account
478,170
478,170
Capital redemption reserve
231
231
Profit and loss account
( 153,736)
( 146,771)
---------
---------
Shareholders funds
330,632
337,597
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
NCG CAM Solutions Limited
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 23 January 2024 , and are signed on behalf of the board by:
Mrs E Dunsmuir
Director
Company registration number: 06917255
NCG CAM Solutions Limited
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Trust Court, Chivers Way, Vision Park, Histon, Cambridge, CB24 9PW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents income from the sale of software and the provision of support, maintenance and training services during the year, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Licences
-
Over 7 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the period in which it is incurred.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
Defined contribution plans
The company makes pension contributions for the directors and staff into their own personal pension arrangements. The annual contributions payable are charged to the profit and loss account.
Operating lease
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2022: 14 ).
5. Intangible assets
Development costs
£
Cost
At 1 July 2022 and 30 June 2023
630,885
---------
Amortisation
At 1 July 2022 and 30 June 2023
630,885
---------
Carrying amount
At 30 June 2023
---------
At 30 June 2022
---------
6. Tangible assets
Equipment
£
Cost
At 1 July 2022
48,805
Additions
6,888
--------
At 30 June 2023
55,693
--------
Depreciation
At 1 July 2022
42,529
Charge for the year
4,122
--------
At 30 June 2023
46,651
--------
Carrying amount
At 30 June 2023
9,042
--------
At 30 June 2022
6,276
--------
7. Debtors
2023
2022
£
£
Trade debtors
156,490
159,158
Other debtors
75,591
73,392
---------
---------
232,081
232,550
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,031
10,132
Trade creditors
15,671
38,140
Social security and other taxes
17,237
Other creditors
13,309
6,507
--------
--------
56,248
54,779
--------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
25,000
35,000
--------
--------
10. Other financial commitments
The total amount of financial commitments not included in the balance sheet is £139,434 (2022: £174,103). There were no contingencies or guarantees.